Permian Basin Royalty Trust (NYSE:PBT) Announces Monthly Dividend of $0.12

Key Points

• Permian Basin Royalty Trust announced a monthly dividend of $0.12, representing a significant increase of 603.5% from the previous monthly dividend of $0.02.
• The stock recently traded down 2.5% to $17.76, with a market capitalization of approximately $827.79 million.
• Institutional investors have increased their stakes in the trust, with 28.86% of shares currently held by hedge funds and institutional investors.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) announced a monthly dividend on Friday, September 19th. Shareholders of record on Tuesday, September 30th will be given a dividend of 0.1155 per share by the oil and gas producer on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a 603.5% increase from Permian Basin Royalty Trust's previous monthly dividend of $0.02.

Permian Basin Royalty Trust Stock Down 2.5%

Shares of NYSE PBT traded down $0.46 during mid-day trading on Friday, hitting $17.76. 109,857 shares of the company were exchanged, compared to its average volume of 146,380. The stock has a 50 day simple moving average of $15.53 and a 200-day simple moving average of $12.36. Permian Basin Royalty Trust has a 1-year low of $8.01 and a 1-year high of $18.80. The firm has a market cap of $827.79 million, a price-to-earnings ratio of 49.33 and a beta of 0.69.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share for the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.The firm had revenue of $3.11 million during the quarter.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC acquired a new position in Permian Basin Royalty Trust during the fourth quarter worth about $623,000. Jane Street Group LLC acquired a new position in shares of Permian Basin Royalty Trust during the 4th quarter worth approximately $475,000. Schwartz Investment Counsel Inc. raised its position in shares of Permian Basin Royalty Trust by 7.2% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 1,486,902 shares of the oil and gas producer's stock worth $14,676,000 after purchasing an additional 100,000 shares during the last quarter. Mad River Investors raised its position in shares of Permian Basin Royalty Trust by 91.5% during the 1st quarter. Mad River Investors now owns 471,693 shares of the oil and gas producer's stock worth $4,674,000 after purchasing an additional 225,400 shares during the last quarter. Finally, Promethium Advisors LLC raised its holdings in shares of Permian Basin Royalty Trust by 46.4% in the first quarter. Promethium Advisors LLC now owns 131,829 shares of the oil and gas producer's stock worth $1,306,000 after acquiring an additional 41,797 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.

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